Feather launches a high-end furnishings rental service for liminal dwelling
Feather is throwing again the curtains to disclose its rental service for mid-priced to high-end house furnishings.
The New York-based startup is a part of the newest crop of Y Combinator corporations and is seeking to appeal to the type of liminally dwelling one that’s at present between the life levels of ending their schooling and beginning a household or proudly owning a house.
“The idea here is, it really doesn’t make sense to buy furniture between when you get out of college and when you buy your own home,” says firm founder Jay Reno.
For Reno, that is the logic of the sharing economic system taken to its logical endpoint. “For people who are between college and owning their first home,” Reno says, “ownership doesn’t make sense for big-ticket items. Throughout this period people are renting houses; then their second biggest asset is the car, and the third is renting furniture.”
Certainly, folks already lease housing and lease automobiles, why not lease the furnishings, as effectively?
Already quietly in operation for about two months, Feather has managed to ebook $50,000 in income and is doing roughly $eight,000 in month-to-month recurring income.
Whereas there’s no rent-to-own possibility right now, the corporate is contemplating it as a future characteristic, however Reno doesn’t need renters to imagine that is one thing that might be akin to the (mainly usurious companies) Hire-a-Heart.
For frugal patrons of low-end or mid-range furnishings, renting with Feather might not take advantage of sense, as the corporate’s costs and choices pattern to the “West Elm-style” furnishings.
For longer-term leases the corporate shall be rolling out sliding pricing, so the month-to-month charge to lease a bit of furnishings will go down the longer the period of the rental.
Feather sometimes breaks even on a rental after about six months.
“In a sense, it’s basically a utility,” says Reno. “Instead of paying thousands and thousands of dollars upfront, you can rent.”
To date, no firm has tapped the rental furnishings market besides corporations that service company or authorities relocation packages, Reno says.
“What we have going for us is that IKEA is such a pain,” says Reno. “There’s so much pain involved for people who are shopping at IKEA that people can see why it may be worth it.”
Maybe for a sure class of house dweller, that’s true.
It’s the thought of being in-between days, or phases, of life. Liminal life is one with out agency commitments to a job, a spot or a group. In these days of figuring issues out, folks will sometimes transfer residences a number of instances, and construct and tear down numerous items of shoddily thrown collectively pasteboard furnishings.
The siren music of Feather’s service is that it removes even these little ache factors from a liminal life. An individual can float on with another person’s furnishings, driving another person’s automotive (or taking rides in it), dwelling in another person’s home and taking good care of another person’s chores.
“If we can remove the pain point, and do it for around the same price as it would cost for you to buy the item,” Reno asks rhetorically, “there’s all of those reasons to removing the friction.”
Shopping for one thing on Feather is very similar to a typical procuring expertise, besides your card is billed month-to-month. Furnishings sometimes arrives in every week to 10 days and is delivered and picked up by Feather associates (birds of a Feather?).
To date the corporate has rented about 300 gadgets and has been catering to Airbnb hosts, enterprise college college students and company relocation corporations.
The corporate was based roughly a yr in the past by Reno and his compatriots from his earlier startup, Completely happy.
The corporate’s furnishings rental providers are at present on provide solely in San Francisco and New York, however Reno hopes to develop the enterprise alongside the coasts initially earlier than transferring into Center America.
In the end, Feather’s imaginative and prescient is to begin promoting full furnishings packages and a month-to-month membership charge that can permit customers to swap out furnishings as they select.
“That’s something that’s coming in the next three months,” he says. “For instance… I am moving into a two-bedroom apartment… I just want to click a button for a two-bedroom apartment and have that furniture delivered.”